BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Imperial Bank of India
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State Bank of India
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Reserve Bank of India
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Punjab National Bank
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Detailed explanation-1: -The Bank of Calcutta, and the two other Presidency banks-the Bank of Bombay and the Bank of Madras-amalgamated on 27 January 1921. The reorganized banking entity assumed the name Imperial Bank of India.
Detailed explanation-2: -– In 1921 these three banks (Bengal, Bombay, and Madras) combined, and a new bank was formed, Imperial Bank of India.
Detailed explanation-3: -In 1921 the presidency banks were merged to form the Imperial Bank of India (IBI), which then became the largest commercial enterprise in the country.
Detailed explanation-4: -In accordance with a law approved on Sep-tember 19, 1920, the Imperial Bank of India began operations on January 27 of this year. This bank represents a consolidation of the presidency banks of Bengal, Bombay, and Madras, which have been doing business in India since the beginning of the nineteenth century.